UAE accounts for 57 percent of FDI projects in Arab countries in 2022: DHAMAN

UAE accounts for 57 percent of FDI projects in Arab countries in 2022: DHAMAN

KUWAIT, 27th July, 2023 (WAM) – The Arab Investment and Export Credit Guarantee Corporation (DHAMAN) announced a rise of 74 percent in the number of foreign direct investment (FDI) projects entering Arab countries in 2022, totalling 1,617 projects with a rise in investment cost of 358 percent, reaching US$200 billion.

According to the report's data, the UAE ranked first among recipient countries with around 923 projects. In terms of sectors, renewable energy ranked first in terms of investment cost, with a share of 60 percent while the software sector led in terms of the number of projects, accounting for 23.4 percent of the total.

According to the 38th Annual Investment Climate Report for Arab Countries in 2023, organised by DHAMAN from its headquarters in Kuwait, these FDI projects are mainly concentrated in Egypt, accounting for 53 percent of total investment cost, and in the UAE, accounting for 57 percent.

The cumulative value of these projects in the region over the past 20 years totalled $1.5 trillion, comprising over 16,000 projects that have created more than two million jobs, the report added.

In the report's opening remarks, Abdullah Ahmed Al Sabah, Director-General of DHAMAN, said that the corporation monitored 155 composite and subsidiary indicators issued